US SB429 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on February 16 2017 - 25% progression, died in committee
Action: 2017-02-16 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1307)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 16 2017 - 25% progression, died in committee
Action: 2017-02-16 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1307)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
AGED Spirits Act Advancing Growth in the Economy through Distilled Spirits Act This bill amends the Internal Revenue Code to exclude the aging period from the production period for distilled spirits that are fit to be used as a beverage, for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.
Title
AGED Spirits Act Advancing Growth in the Economy through Distilled Spirits Act
Sponsors
Sen. Mitch McConnell [R-KY] | Sen. Rand Paul [R-KY] |
History
Date | Chamber | Action |
---|---|---|
2017-02-16 | Senate | Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1307) |
Same As/Similar To
HB747 (Related) 2017-01-30 - Referred to the House Committee on Ways and Means.
HB1126 (Related) 2017-02-16 - Referred to the House Committee on Ways and Means.
HB1126 (Related) 2017-02-16 - Referred to the House Committee on Ways and Means.
Subjects
Alcoholic beverages
Business investment and capital
Income tax deductions
Interest, dividends, interest rates
Taxation
Business investment and capital
Income tax deductions
Interest, dividends, interest rates
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/429/all-info |
Text | https://www.congress.gov/115/bills/s429/BILLS-115s429is.pdf |